loanDepot Reviews | Glassdoor

loanDepot Reviews

Updated Aug 17, 2019

To filter reviews, or .

Found 963 reviews

3.2
StarStarStarStarStar
Rating TrendsRating Trends
51%
Recommend to a Friend
66%
Approve of CEO
loanDepot CEO Anthony Hsieh
Anthony Hsieh
685 Ratings
  1. Helpful (1)

    "Good"

    StarStarStarStarStar
    Current Employee - Loan Officer 
    No opinion of CEO

    I have been working at loanDepot full-time

    Pros

    Consistent pay even for comission

    Cons

    Culture is not as good as they portrait

    Continue reading
    loanDepot2019-07-01

    loanDepot Response

    July 17, 2019loanDepot

    Thank you for taking the time to share your experience. If you would like to talk with someone at any time, please email us at wecare@loandepot.com.

    Continue reading
  2. Helpful (3)

    "fun at the time being job became tiresome after 300 calls a day"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Customer Service Representative 
    Doesn't Recommend
    Negative Outlook
    Approves of CEO

    I worked at loanDepot full-time for less than a year

    Pros

    work enviroment was fun pay was decent

    Cons

    Long hours management breathing down your neck

    Continue reading
    loanDepot2019-06-20

    loanDepot Response

    June 21, 2019loanDepot

    Thank you for sharing your feedback about your recent experience with us. If you would like to talk with someone about your experience, please send us an email at wecare@loandepot.com. Thank you!

    Continue reading
  3. Helpful (11)

    "If you have talent, brains, and drive, don't waste your time here"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Account Manager in Foothill Ranch, CA
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at loanDepot full-time for less than a year

    Pros

    The benefits and pay were pretty good. The IQ test they give you is easy.

    Cons

    I was brought in because my manager could not do the job. I came in and implemented many new things while my manager got all the credit (and a hefty bonus). I was promised a promotion, instead, after saving my boss's hide, I was laid off. Empower is all messed up - all the people who messed it up are gone along with the people who could have fixed it. An open work environment did not work for me. While I was trying to concentrate on a project all I could here was LOUD cussing and laughing by the Loan Consultants. There was no dress code that I could perceive. People came to work in jeans and a sweatshirt - totally unprofessional. No quality controls, no structure, lots of nepotism (even when top management was totally inept). I was told that I intimidated management because I had 20 years of experience and knew more than most of the people there, so I was laid off instead of being put in a position where I could help the business out of a lot of jams. No raises, so make sure your ask is high. No promotions with the exception of the "chosen ones" who really could not do the jobs they were originally there for yet alone the jobs they were promoted into. Upper management lie about their experience just to get the job, but I checked their LinkedIn backgrounds and most of them, at best, have a master's in something other than business from unaccredited (buy your degree) small for profit schools no one has heard of.

    Continue reading
    loanDepot2019-07-21

    loanDepot Response

    August 4, 2019loanDepot

    Thank you for taking the time to leave this review. We're sorry to hear that your experience with us was less than exemplary. If you would like to talk with someone further about your experience, please do not hesitate to email us at wecare@loandepot.com and we will schedule a call.

    Continue reading
  4. Helpful (7)

    "Not a good company to work for."

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Loan Processor III 
    Doesn't Recommend
    Negative Outlook
    No opinion of CEO

    I worked at loanDepot full-time for more than a year

    Pros

    None that I can think of unfortunately

    Cons

    Horrible management. Horrible management team.

    Continue reading
    loanDepot2019-07-18

    loanDepot Response

    July 18, 2019loanDepot

    We're sorry to hear that your experience with loanDepot did not meet your expectations. If you would like to talk with someone further about your experience, please do not hesitate to email us at wecare@loandepot.com.

    Continue reading
  5. Helpful (8)

    "Was better under the old management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Legal 
    Doesn't Recommend
    Disapproves of CEO

    I worked at loanDepot full-time for more than 8 years

    Pros

    Not sure I can think of any. Everything that was great about the company was taken away when the merger occurred.

    Cons

    Cons – The company does not seem to care about the employees. The last manager I worked under was the worst I ever had due to his “micromanagement” style. When I did complain to upper management about him, the aftermath was that I was brought into a room and “bullied” and intimidated by my immediate so that I would not do it again. There was also a blatant “double standard” under my manager. Other employees my manager turned a blind eye to. When it came to me, he always was keeping an eye on me. Always checked his watch when I walked by to make sure I was not taking more breaks than allowed. The manager I worked under would never back us up. He would come up with excuses as to why other departments were unable to do their jobs and that we had to assist them. But when it came to our area, he would expect perfection and no excuses. In many instances when the workload was too much and I fell behind, he would scold me in front of everyone else on the floor but then refused to jump in and help us. During the scolding he would remind me of SLA goals and how they had to be met. But after the scolding, he would walk around and “shoot the breeze” with other managers and leave me to struggle with no assistance from him. Never did anything unless there was a “political advantage” for him to do something. Other than that, did nothing to promote the careers of our team. While I had a “knee in my back” from my manager to meet very high work levels, other managers in my area could be seen playing “Pokémon Go”. Sometimes they would leave the building during working hours to chase down the “pogs”. And of course, the ones playing “Pokémon Go” are the ones who have been promoted and still there. Other instances, they would talk and / or scream across the room at each other, going on and on about sports, hotels, a popular TV show or the pursuit of the “Pokémon Go” POG. For the record - I did mention this distraction to my manager. His response was - “Well, they work hard. It is ok!!” Attempts to get out of the department and / or doing things not as menial were not possible by current management. I was “pigeon- holed” into a horrible meaningless position. When I was on a project that could have led me somewhere, my manager excluded me from those meetings so I could not participate. Under the old regime, there would have been more caring and concern – or maybe not even let go. Under this regime, they do not care. Worked there many years and only got two weeks’ severance.

    Continue reading
    loanDepot2019-06-29

    loanDepot Response

    July 1, 2019loanDepot

    Thank you for taking the time to share your experience with loanDepot. We will share your insights with our team. If you would like to talk with someone further, please do not hesitate to email us at wecare@loandepot.com and we will have someone reach out to learn more.

    Continue reading
  6. Helpful (14)

    "Disappointing"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Senior Underwriter 
    Doesn't Recommend
    Disapproves of CEO

    I have been working at loanDepot full-time for more than 5 years

    Pros

    The pay is decent with base, OT and bonus.

    Cons

    I love what I do, but am constantly frustrated by the fact that the processors are not trained to actually process the loans, but rather to push the files to underwriting to figure them out. The system has a communication portal in place, but many do not use it nor do they send emails explaining what changes they have made or what is new to the file. The crystal ball is a myth, and we are not mind readers. Many processors are new to the business, they are taught to argue over conditions. They do not read what they submit which causes many issues impacting the qualification of loans. Or they ignore conditions till the end of last submission (files are usually 4-8 touches by the underwriter) and then want the items waived. Why? Because they didn't do their jobs! The borrowers end up suffering for the poor job performance from the processing department.

    Continue reading
    loanDepot2019-05-22

    loanDepot Response

    May 28, 2019loanDepot

    Thank you for taking the time to share your concerns here. We will share your feedback with the team. We noted that you are a current employee, as well. We would be happy to discuss your concerns further if you would like. If so, please email us at wecare@loandepot.com. Thank you!

    Continue reading
  7. Helpful (1)

    "Good and bad"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Loan Officer 
    Doesn't Recommend
    Neutral Outlook
    No opinion of CEO

    I worked at loanDepot full-time for more than 3 years

    Pros

    Decent compensation, good work colleagues

    Cons

    Micromanaging, no work life balance, call center environment

    Continue reading
    loanDepot2019-06-06
  8. Helpful (5)

    "Unprofessional management"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Customer Lending Representative 
    Doesn't Recommend
    Neutral Outlook
    Approves of CEO

    I worked at loanDepot full-time for less than a year

    Pros

    If you’re seeking a career in mortgages they will help you move up.

    Cons

    Without going into detail , management was shockingly unprofessional . I don’t know if it was an isolated incident or if that kind of thing happens often ... but it was extremely inappropriate.

    Continue reading
    loanDepot2019-06-20

    loanDepot Response

    June 21, 2019loanDepot

    Thank you for taking the time to leave us this review. If you would like to talk with someone about your recent experience, or the concern you are referencing, please do not hesitate to send us an email at wecare@loandepot.com. Thank you!

    Continue reading
  9. Helpful (1)

    "Great place to learn"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Licensed Lending Officer in Foothill Ranch, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I worked at loanDepot full-time for more than 3 years

    Pros

    The pay is great, if you’re new to the industry; everyone is extremely helpful to help you learn.

    Cons

    The grind and late hours can make it hard to do everyday.

    Continue reading
    loanDepot2019-05-14
  10. "Great COmpany"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Customer Lending Representative in Lake Forest, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at loanDepot full-time for less than a year

    Pros

    Decent pay and a lot of room for growth

    Cons

    Long hours and schedule changes month to month

    Continue reading
    loanDepot2019-05-08

    loanDepot Response

    May 10, 2019loanDepot

    Thank you for sharing your review. If we can assist you in the future, please feel free to email us at wecare@loandepot.com.

    Continue reading
Found 963 reviews